The Africa Sustainable Energy Centre (ASEC) has warned that Ghana’s rapidly declining crude oil production poses an immediate fiscal and economic threat, calling for urgent and strategic interventions to safeguard the country’s petroleum revenues and national energy security.
Tullow Oil plc is working to recover more than $200 million in outstanding payments from the Government of Ghana, a situation placing significant pressure on the London-listed company’s cash flow as it races to refinance its debt structure ahead of a May 2026 bond maturity. The receivables, which include approximately $100 million in gas payments, TEN development debt, and overdue cash calls, stood at over $200 million net to Tullow as of the end of October, according to the company’s November trading update.
The company is addressing outstanding issues including securing payment mechanisms for gas sales and an updated plan of development for the Jubilee oilfield.
The Government’s decision to lead discussions that could result in the acquisition of Springfield Exploration and Production Limited’s (SEP) interest in the West Cape Three Points Block 2 (WCTP 2) has generated widespread debate across the energy sector and the broader public space.
The government will take bold and forward-looking steps to ensure that Ghana’s petroleum wealth delivers greater value for its people, Finance Minister, Dr Cassiel Ato Forson, has said. To this end, he said an additional qualifying instrument for the investment of the petroleum resources of the Ghana Petroleum Funds (GPFs) would be introduced. The move, […]
Government has reaffirmed its determination to halt the country’s half-decade decline in oil production, announcing more than US$3.5billion in new investment commitments as the national oil company (NOC) prepares to begin offshore drilling in late 2026.
The Minister for Energy and Green Transition, John Abdulai Jinapor, has paid a working visit to the Ghana National Petroleum Corporation (GNPC) and its subsidiary, GNPC Explorco, as part of his ongoing tour of agencies under the Ministry.
The Minister for Finance, Dr Cassiel Ato Forson, has presented the 2026 Budget Statement and Economic Policy with a candid assessment of the nation’s petroleum sector, highlighting a significant slump in 2025 and outlining an ambitious reform to ensure oil wealth benefits domestic development
The country’s upstream oil and gas sector has received a major boost with some of the industry’s global big players expressing interest to invest.
The Ghanaian government has announced measures to halt declining crude oil production and restore investor confidence in the petroleum sector after output fell 32 percent between 2019 and 2024. Production dropped from 71.4 million barrels in 2019 to 48.2 million barrels in 2024, according to Public Interest and Accountability Committee (PIAC) reports. The decline has […]